US-based OneRoof Energy signed an agreement with MS Solar Holdings and Main Street Power company to finance $100m for the development of residential projects.
Funding will be provided under the MySolar residential lease financing platform, with debt financing for the latest projects provided by National Bank of Arizona.
The platform enables OneRoof Energy to provide solar lease financing to several American homeowners in Arizona, California, Colorado and Hawaii.
Morgan Stanley executive director Martin Mobley stated that company will continue its focus on expanding solar solutions across US, allowing a large number of homeowners to afford renewable energy.
“Our partnership with accomplished solar providers such as Main Street Power and OneRoof Energy provides unique collaborative opportunities and helps ensure a successful program deployment,” Mobley added.
With the financing home owners can purchase solar electric systems without capital investment, while saving 5% to 25% on their electricity bill.
OneRoof Energy president and CEO David Field said, “We are excited to partner with Morgan Stanley and Main Street on this investment, as it represents a strong vote of confidence in our future.”